Healthcare and media bankers are expecting a surge in salary, although other types of Wall Street jobs may be seeing pay cuts.
Bloomberg reported that those working with clients in the healthcare industry could see as much as 20% extra on their paychecks, according to an Options Group report that projected the largest pay raises and cuts.
Those in telecommunications, media, and technology were also winners, with expected 15% pay boosts.
Meanwhile, traders in distressed debt and mortgage-linked securities could be seeing pay cuts around 25%, while crude-oil traders are expecting a 20% cut, reported Bloomberg.
According to the article:
Options Group’s forecasts are based on public and proprietary data about revenue for the year’s first nine months, and bonus expectations from a survey of about 3,000 Wall Street workers. The New York-based firm has conducted the survey for more than a decade.
“Health-care and technology-media have been quite active this year, and so naturally compensation for these two areas in investment banking will be higher,” Michael Karp, Option Group’s CEO, said in a phone interview with Bloomberg. “Equity derivatives will be the star performer within equities, as there’s always a war for talent because there’s a limited pool of talent — and the best traders often leave for the buyside.”